Q-Free reports increased revenue, major tag order

Q-Free has been awarded an order for OBU610 tags from Roads and Maritime Services (RMS) in Australia at a value of US$2.4 million, to be delivered within the second quarter of 2015. “Q-Free has supplied more than two million tags to RMS, representing an important basis for our activity in Australia. We are pleased to see the continued strength of this particular relationship and of our competitiveness in the Australian market,” comments Q-Free CEO Thomas Falck. Q-Free also reported increased revenues
August 14, 2014 Read time: 2 mins

108 Q-Free has been awarded an order for OBU610 tags from 6722 Roads and Maritime Services (RMS) in Australia at a value of US$2.4 million, to be delivered within the second quarter of 2015.

“Q-Free has supplied more than two million tags to RMS, representing an important basis for our activity in Australia. We are pleased to see the continued strength of this particular relationship and of our competitiveness in the Australian market,” comments Q-Free CEO Thomas Falck.

Q-Free also reported increased revenues for the first half of 2014, up by 24 per cent to US$57.6 million from the same period in 2013; EBITDA was US$6.3 million, EBIT was US$503,000 million, and pre-tax profit was US$292,000.

The second quarter of 2014 saw Q-Free revenues increase by 26 per cent from 2013 to US$30.3 million for the second quarter 2014; EBITDA improved to US$3.4 million from US$2.6 million, EBIT improved to US$357,000 from US$48,700, while pre-tax profit improved to US$48,700 from a loss US$373,000 in the second quarter 2013.

The company says revenue over the last two years has reflected a substantial increase in product sales and lower project revenues. This trend continued in the second quarter 2014, with product sales reaching the highest level since the fourth quarter 2011.

Q-Free has taken steps to improve its future revenue generation, including a profit improvement program and improved customer focus on the small and mid-sized segment of the road user charging market to broaden the scope of business. Organisational changes, together with previously-announced acquisitions, will enable Q-Free to provide a broader portfolio of products and value added services to its customers and strengthen the company’s position. Going forward, Q-Free will focus on realising synergies within the Group and on growing the business further, both with organic growth as well as add-on acquisitions.

Q-Free continues to see a positive long-term outlook, with opportunities both in the traditional road user charging market and in the market for advanced transportation management systems.

Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • US toll roads stable for 2014, says Fitch
    December 18, 2013
    Within a broader review of US transport infrastructure securities, including ports and airlines, Fitch Rating analysts say the recent slow growth in aggregate traffic is likely to continue but that many established toll roads look financially solid because of their pricing power - tolls that have been well below revenue maximising levels. Their pricing power has been somewhat reduced, Fitch says, by strong increases in toll rates on many toll roads, which mean they have less scope for big increases in to
    Read More
  • Travel times halve for tolling converts
    August 5, 2013
    The Port Mann Bridge in Vancouver is a prime example of how the latest ITS systems enable new infrastructures to be built and paid for while still providing additional user benefits. Vancouver has 2.2 million inhabitants and, like so many major cities, is divided into two by a river, the Frazer river. This combination makes Vancouver the second most congested city in North America and the most congested in Canada. Through the middle of the city runs the Trans-Canadian Highway 1 which crosses the Frazer Riv
    Read More
  • Rating agency Standard and Poor Tolling sees a bright future for tolling
    September 6, 2017
    Few disruptions appear on the horizon for global toll road operators, with the US poised to become a better bet for major investment, according to ratings agency Standard and Poor’s (S&P’s) Global Ratings’ 2017 report, which rates toll road operators according to their ability to raise capital. The outlook is generally stable for business conditions and credit quality for toll roads worldwide. One positive exception is the US where the overall outlook is ‘positive’ as S&P expects traffic growth to increase
    Read More
  • Q-Free wins in Brazil again
    August 16, 2012
    Q-Free has been awarded a new frame agreement for delivery of tolling tags from Centro Gestao Meios de Pagto (CGMP), Brazil's Centro tag distributor, valued at US$12, with a guaranteed volume of just over $4 million.
    Read More

Highlighted Content